Daily Update On Current Affairs – August 28, 2017

Current Affairs

Here’s your daily summary of Current Affairs.

Sedition charges against security men of Dera Chief

Sedition and attempt to murder charges have been slapped against seven people, including five Haryana police personnel, who were part of the Dera Sacha Sauda chief’s security paraphernalia when he arrived at Panchkula to appear in a CBI court on August 25, 2017. “Sedition charge has been slapped against seven people, including five Haryana police personnel,” Karambir Singh, Inspector, Panchkula Police (Sector-5), said on August 27, 2017. They had also been charged for attempt to murder, he added. The seven security personnel of Gurmeet Ram Rahim Singh had allegedly tried to free him when the self-styled godman was brought outside the Panchkula Court complex on August 25, 2017, after the special CBI court convicted him in a 15-year-old rape case, the police said.
Government wants to replicate Ujjwala success in all schemes

The Pradhan Mantri Ujjwala Yojana (PMUY) – the scheme to give free LPG connections to the poorest households – was termed a game changer for the ruling party in Uttar Pradesh because of its popularity as a pro-poor move. Now, the Modi government wants to replicate its success for all the other welfare schemes, especially the ones implemented by the Rural Development Ministry. The PMUY owes much of its success to the data provided by the Socio-Economic Caste Census 2011 or SECC that helped the Petroleum Ministry, along with the State governments, accurately identify the households in need of an LPG connection.
Army seeks Rs 20000 Cr for new orders

As part of the efforts to build up emergency reserves of spares and ammunition, the Army has sought ₹20,000 crore from the Ministry of Defence (MoD). This comes at the same time the MoD has sought ₹20,000 crore more to meet its financial requirement. The Army’s request is meant to meet the procurement being made under the emergency powers of the Vice-Chief of Army Staff. “We are looking at making up for the deficiencies in phases, which will take several years. We have asked for ₹20,000 crore for the next round of orders. The file has been sent to the MoD,” a senior officer told. The Vice-Chief of Army was recently given unlimited financial powers to make emergency purchases so as to make up critical deficiencies in 46 types of ammunition and spares for 10 types of weapons to build stocks for 10 days of intense fighting. The decision was part of a review of defence preparedness after the Uri terror attack.
American Warship Pearl Harbour arrives in India
On the 24th August 2017, the American Navy’s amphibious dock landing ship USS Pearl Harbour arrived at Goa Port. This is the ship’s first visit to India. The ship is here as part of the defence cooperation between the USA and India. The ship’s marines and engineers will conduct exchange programmes with their Indian counterparts during their stay here.
New CEO for Uber

Uber Technologies Inc. on Sunday hired Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its new chief executive, according to two sources with knowledge of the matter, handing him the challenge of leading the ride-services company out of a nearly year-long crisis. Khosrowshahi, 48, will take on the daunting task of mending Uber’s image, repairing frayed relations among investors, rebuilding employee morale and creating a profitable business after seven years of losses. He will also have to contend with the legacy of his predecessor, Travis Kalanick, Uber’s pugnacious co-founder, who was ousted as CEO in June after shareholders representing about 40% of the company’s voting power signed a letter asking him to step down amid growing concern over his behavior and the behavior of senior managers under him.
Hurricane Harvey wreaks havoc in Houston

Hurricane Harvey, the most powerful to hit the United States in 13 years, left a trail of destruction as it swept across Texas on Sunday, pummeling the region with heavy rains and claiming at least two lives since making landfall on the US’ Gulf Coast. Harvey continued to batter Texas as rescuers grappled with heavy rains to reach out to people stranded due to the hurricane. With winds topping 130 mph, Harvey is the first Category 4 storm to make landfall in the US since Hurricane Charley struck Florida in 2004, and the first to hit Texas since Hurricane Carla in 1961.
Centre ready to give funds for PSU Banks merger

The Finance Ministry is open to providing capital support for facilitating consolidation among state-owned banks, which are reeling under mounting bad loans, official sources said. The Union Cabinet has approved the setting up of an alternative mechanism, or a panel of ministers, to decide on consolidation proposals for state-run banks. On receiving a proposal from stressed banks, if the Ministerial panel finds that the merger is going to create a strong bank, it will not let it go for want of fund shortage, the sources said, adding that acquisition will come at a cost. “First, the merger proposal should come from the board,” said a source, who did not want to be named.
Government notifies changes in Banking Regulation Act

The Govt has brought about changes in the Banking Regulation Act to enable RBI to invoke provisions to recover Bad Loans. The Banking sector is burdened with NPAs to the extent of over Rs 8 lac cr out of which Rs 6 lac cr is with the PSU Banks. The RBI has identified 12 such large NPAs for referral under the Bankruptcy Law. 
IRDAI launches central data base of insurance sellers
The Insurance Regulatory Development Authority of India has launched a central data base of all insurance sellers in the country called “Envoy.” This data base ensures that any channel of sales persons in the industry, in which ever category they fall, do not work for multiple insurance companies, as this is banned by IRDAI.
Sindhu loses World Championship final gallantly

P.V. Sindhu’s gallant effort to become India’s first ever World Champion ended in a heart- wrenching defeat against Nozomi Okuhara in an epic final, in Glasgow on 27th August 2017. In a nerve-wracking final, which tested the physical and mental strength of both the players, Sindhu lost 19-21 22-20 20-22 after battling hard for one hour and 49 minutes. After closing the second game by winning an incredible 73-shot rally, Sindhu saved one championship point in the decider but it was the Japanese who had the last laugh. Nevertheless, Sindhu fought like a true champion and kept her promise that she would strive to change the colour of her medal, having won two bronze from past editions. Although she would have hoped for a gold, which no Indian has even won at the World Championship. 
Lewis Hamilton wins Belgian Grand Prix, his 200th
Lewis Hamilton celebrated his record-equaling 68th pole position with victory at the Belgian Grand Prix on 27th August trimming championship leader Sebastian Vettel’s lead to seven points. Vettel finished second, about 2 seconds behind Hamilton. “Sebastian was very, very close. He was very consistent throughout,” said Hamilton, after his 200th GP. “That’s what racing’s about.” “Really brilliant,” Mercedes head of motorsport Toto Wolff said. “Hamilton’s drive was really fantastic.”
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